have entered into a commercial term sheet agreement with Taiwanese intellectual property company Million Star Entertainment.
The yet-to-complete deal would see mm2 and Man Man Er jointly explore commercial opportunities for the more than 600 IP rights managed by Million Star. As part of the deal, Man Man Er and mm2 Asia plan to buy a strategic stake in Million Star. The details will only become available when the companies complete due diligence, but as a Singapore public company mm2 is required to inform investors of significant deals.
Mm2 says that the partnership and investment will allow it to extend its market regionally and internationally and to better promote Asian IP to global audiences.“We are seeing increasing demand for strong, multi-territory Chinese-language content in recent years; accelerated by the adoption of mobile technology and competition between streaming platforms,” said Melvin Ang, executive chairman of mm2 Asia.
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